In some cases, buyers might be refunded more than 10% off the purchase price. However, like the post-Christmas price markdowns at retail stores this month, the Australian housing market is having a sale of its own for first home buyers, and it's for a limited time only.

To find out how to maximise your first home owner grant and why you should buy now, read the latest issue of Your Mortgage magazine out on sale now.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker